*President Obama upped his campaign against Wall Street for tougher regulation against some of the largest banks. After this campaign, the stocks dropped more then 200 points, major points falling more then 5 percent. Obama believes the government should have the power to limit the size of large financial institutions. Obama also says, "We have to enact commonsense reforms that will protect American taxpayers and the American economy from future crises. For, while the financial system is far stronger today than it was one year ago, it's still operating under the same rules that led to its near-collapse." Supporting Obama's announcement, is Federal Reserve Chairman Paul Volcker who heads the President's Economic Recovery Advisory Board and William Donaldson, chairman of the Securities and Exchange Commission.
*I don't know what the restrictions on the bank will do but I'm sure it will help with the economy. Whether it helps or not, it will still definitely have an impact on the United States. Hopefully though, it can help get us out of this rut.
Date: 2/8/10
Title: Super Bowl 2010 Champions New Orleans Saints March Home
Author: Sabrina Parise, Kate McCarthy and Sarah Netter
Source: http://www.msnbc.msn.com/id/34967521/ns/business-us_business/
Date: 1/21/10
Title: Obama seeks tighter limits on banks' reach
Author: Associated Press
Topic: Politiacs
*President Obama upped his campaign against Wall Street for tougher regulation against some of the largest banks. After this campaign, the stocks dropped more then 200 points, major points falling more then 5 percent. Obama believes the government should have the power to limit the size of large financial institutions. Obama also says, "We have to enact commonsense reforms that will protect American taxpayers and the American economy from future crises. For, while the financial system is far stronger today than it was one year ago, it's still operating under the same rules that led to its near-collapse." Supporting Obama's announcement, is Federal Reserve Chairman Paul Volcker who heads the President's Economic Recovery Advisory Board and William Donaldson, chairman of the Securities and Exchange Commission.
*I don't know what the restrictions on the bank will do but I'm sure it will help with the economy. Whether it helps or not, it will still definitely have an impact on the United States. Hopefully though, it can help get us out of this rut.